China’s Accelerating Gold Accumulation Reshapes Global Markets
China's central bank added 15 tonnes of Gold in September—ten times more than officially reported—continuing a pattern of understated acquisitions that saw 27 tonnes purchased in April. The nation's reserves now stand at 2,304.5 tonnes, with analysts estimating actual holdings may exceed 2,400 tonnes when accounting for undeclared stockpiles.
This aggressive accumulation coincides with Beijing's campaign to elevate the yuan's global role. Gold's rally in 2024 has drawn institutional interest worldwide, but China's systematic buying operates on a different scale—transforming bullion into both a monetary weapon and a hedge against dollar dominance.